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20121108
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CNBC
Nov 8, 2012 4:00am EST
all reacting to yesterday's election result in the u.s. we'll head out to new york city later in the show for a preview of what to expect on wall street today. and more than 2,000 hand picked chinese delegates gathered at the great hall of the people to kick off the communist party week long transition. beijing will only officially reveal the next generation leaders thursday. hu jintao promised political and economic reform, but he stressed china won't abandon one party rule and will stick to the socialist path. eunice is live for us. this is his big final speech, so reading in sort of between the lines almost is very telling. it's the legacy he's trying to cath. and what less gassy is that? >> many here believe what he is saying is significant in that it is his final farewell. he really was just reading through the work report to talks about the achievements, the economic and political achievements that the party has had. and also to outline the future challenges. one of the first challenges you had already addressed is the issue of corruption. he said the government needed to do mo
CNBC
Nov 8, 2012 5:00pm EST
never forget the day of the u.s. election. in case you are wondering the twin named barack obama was born first. >> that's a horrible y. >> can you imagine the little kids going around with the names mitt romney and barack obama? >> you don't have to imagine that. >> the poor kid that's romney. >> good point. up next, "fast money" digs into america's quest for energy independence. can the u.s. free itself from foreign oil and how much will it cost? devon energy is helping us break down the facts ant what it will take to get us there. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> welcome back. we are live at the nasdaq market site in times square. a hot topic on the road to the white house with president obama highlighting his first term's policy throughout his campaign. >> here's what i have done sinc
CNBC
Nov 8, 2012 12:00pm EST
more and more attractive, not just in the u.s., but abroad you'll invite a lot of competitors. so the delta between what you're creating versus the competitors versus every rnd strategist on the planet will narrow and it will continue to have a lead and maybe not a lead as substantial as they used to have, but for your commentator to say that your company isn't special anymore and this is a company that generates $1 billion of free cash flow per week and it's ludicrous to say this and probably the most important and most successful in the planet. >> so porter, what turns it around. what gets sentiment back going the other direction and that's all that matters to people that believe the apple story. >> the headlines earlier this week is that apple is losing market share in the tablet business and of course, they will because they invented that product category and there are now a dozen competitors and the market is growing at over 50% a year and so there's plenty of room to go. they are definitely, as paul pointed out. they are the market leader and they're going to have less share
CNBC
Nov 8, 2012 3:00pm EST
, the u.s. stimulated the last crisis with our subprime crisis. the world was awash in debt. demographic trends were set to slow. now we have the same thing replaying with europe set to be the trigger this time with their sovereign debt crisis. we have even greater debt now in countries around the world. demographics is getting ready to slow more in the next few years. i think we're prime for a crisis. this time it's going to be europe that triggers it, not our fiscal cliff, not our fed. if we could take the whole world down, europe can take the whole world down. think of it this way. we've had two bubbles and we're in a third one. each bubble has taken us a little higher. each crash has taken us a little lower. 6,000 is simply the bottom trend line through those bottoms, including the 6440 in early 2009. it's a slight new low. it's not anything that should be unexpected given the trend. >> well, it's still, you know, half of where we are right now. it's only a two-year period. ron, take the other side of that. what do you think? >> i think it's a pretty easy other side to take. with res
CNBC
Nov 7, 2012 11:00pm EST
up. >> certainly. we have 11 landfills in north america, two in canada, nine here in the u.s. a lot of that volume that we're getting into our landfills in the u.s. is from the oil and gas place, quite frankly. so our real focus to deal with drill cuttings, a lot of the drilling muds, processing waste on these drill sites. handling those waste back in our landfills. we're also out actively pursuing remediation projects, large events or projects that are taking care of super fund related cleanup. that's a steady pipeline of business we've been focused on. we continue to see that volume or business continue to be pretty steady and growing. >> as a staff at cnbc, we're really focused on the fiscal cliff. i know people are tired of hearing that term, but it's huge. is there super fund money that's cut automatically in 2013 because of sequestration? >> you know, the super fund hasn't really been reauthorized for years. the amount of money that's being spent directly by the government is very small. what we're working for are these prp groups, these responsible parties where they've colle
CNBC
Nov 8, 2012 9:00am EST
comps go red for the first time in nearly a decade and the u.s. underperforming. any doubt now that rivals are stealing share? >> retailers like macy's finally quantifying the effect of hurricane sandy. walmart kicking off black friday earlier than ever. we start this morning with the markets looking to bounce back from yesterday's selloff and nearly 1313 drop in the dow. europe on wall street's radar after the ecb and bank of england kept key rates unchanged. draghi holding a press conference right now saying he sees economic rekafr ri remaining weak and reforms are crucial to boosting growth potential on top of greece passing an unpopular package of austerity measures on wednesday and necessary for greece to receive another round of international financial aid. china's ruling communist party congress con vealing today in a leadership change. so much to digest overseas, jim. what came out of the ecb is expected. came out of greece seems to be largely expected. but spain still resisting. a bailout. that's trouble. >> i know. every day the crucial -- that's the crucial link. you have
CNBC
Nov 7, 2012 7:00pm EST
to policy gridlock and economic stagnation and roll up sleeves, make 2013 a better year for the u.s. economy. they're urging congress and the white house to do the same. well, let's talk to john engler, president of the business round table, former republican of michigan. governor. so john, elections matter. you know that. there's already been some degree of cooperation in the last 24 hours. the president called the leaders. mr. boehner reciprocated, said maybe we can make a deal. what do you think's going on here? >> well, i hope it is a thaw that's going to result in some significant progress. we're way behind in terms of work that just needs to be done. i mean, provisions in the tax law that if expired will be going on almost a year now. more at the end of this year. so this short-term fiscal cliff has to be gotten out of the way. that's just noise. and then we need to get serious on the long-term fiscal strategy, which includes economic growth, comprehensive tax reform, and entitlement reform. those three are all i think integral parts of a plan that would see america and our ec
CNBC
Nov 8, 2012 6:00am EST
cboe volatility index jumped. u.s. equity futures should be interesting to look at temperature basically on hold. not sure what to do after yesterday. we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws
CNBC
Nov 8, 2012 1:00pm EST
downgrade of u.s. debt looming here and what would that do to financial markets. i want to sort of tell you a little bit about why you might be able to stop worrying and start to love these ratings agencies. the reason is the timeline of any downgrade that might come down the pike. starting with moody's. they're saying their rating on u.s. debt is likely to be maintained until the outlook of negotiations is clear. now fitch, they're likely to review their rating of u.s. debt in late 2013. late 2013. standard & poors poor's is saying it is a 1 in 3 chance of a downgrade over the coming two years. what do the ratings agencies want to see in order to avoid those kinds of downgrades? what they're saying is laid out specifically in their reports. moody's saying they want to see specific policies that produce a stabilization. they want a downward federal debt to gdp trend. fitch says they want an agreement on med yum term deficit reduction in 2013. standard and poor's is saying a medium term fiscal plan toward reducing general government debt. if you're an investor worried about these ra
CNBC
Nov 8, 2012 4:00pm EST
2%. we're up as much as 2.5% minutes before the close. u.s. regulators approve jpmorgan's $3 billion stock buyback. that was lifting shares earlier. as you can see, finished lower with the rest of the group at the end of trade. hospital stocks did soar wednesday now that we know obamacare is likely here to stay. now hoptd names are selling off. down about 4% or more. those concerns about coal persisted in thursday's trade. they continued to slide lower as investors bet the president's re-election will lead to increased regulation for the industry. we know mitt romney was more of a fan of coal stocks. but he will not be our president. we now know. mar maria, back to you. >> court, thanks. meanwhile, what's the deal with groupon? the daily deal website's latest results out just minutes ago. we'll talk about what groupon needs to survive. the story next. plus, more on this busy edition of the "closing bell." >>> coming up, the empire strikes gold? >> hello there. >> disney's ceo bob iger joins maria for a first-on interview to talk earnings and the acquisition that adds the star
CNBC
Nov 8, 2012 2:00pm EST
. investors. realtors just reported the median home price in the u.s. rose 7.6% from a year ago. other reports show smaller price gains. prices up just 2% year over year for the nation's top 20 markets. others show prices up nationally from 3% to 5%. the realtors' number is so high because they use a median price comparison. that means half the homes sold for more and half for less. when all the action in the market is on the low end, i.e. investors buying foreclosures, the median price skews lower. what's happening now is that investors can't find enough distressed homes to buy because of all the bank delays and loan modifications. the numb berp er of homes in th foreclosure process hasn't moved. investors are suddenly a smaller share of the market. in fact, down to 23% from 30% last year. the median price skews higher. >>> if you followed all that, you want to know is your home gaining value. right now as we speak, probably. but it depends more than ever now where you live and if investors are heavy into your neighborhood. guys? >> all right, diana. thank you very much. >>> well, cal
Search Results 0 to 10 of about 11